The Annual Demand For Stainless Steel in Turkey Is As High As 700,000 Metric Tons, Of Which 75% Is Dependent On Imports

The annual demand for stainless steel in Turkey is as high as 700,000 metric tons, of which 75% is dependent on imports

The annual demand for stainless steel in Turkey is as high as 700,000 metric tons, of which 75% is dependent on imports. For this reason, countries are actively rushing in. Repeated epidemics overseas have affected supply, and China's stainless steel supply chain is complete and stable, which is more popular. Since the beginning of this year, China's stainless steel exports to Turkey have increased significantly, becoming its largest stainless steel supplier.

In November 2021, the amount of stainless steel exported from mainland China to Turkey was about 52,000 tons (a record high), an increase of 64% month-on-month and 189% year-on-year. From January to November, the cumulative export volume was about 357,000 tons, a year-on-year increase of 177,500 tons, an increase of 98.8%.

Depreciation of the currency, soaring energy costs, pushing up stainless steel prices

Turkey's energy is mostly dependent on imports. The lira depreciated sharply in November, and energy costs almost doubled year-on-year. After the cost of stainless steel, plants rises, the price rises accordingly, which limits their competitiveness in the domestic and export markets to a certain extent.

China's price advantage is obvious, and cold-rolled exports continue to increase

After September, the export price of China's 304 cold-rolled stainless steel continued to fall, and it continued to increase its share of the Turkish stainless steel market at a competitive price.

Since September, the volume of cold rolled stainless steel exported from mainland China to Turkey has continued to increase, and by November it has increased by nearly 10,000 tons, an increase of 46.5%.